SPX cash index fall short of an overhead gap and pulled back (Chart 1) where as futures filled the gap with a higher rebound high. SPX cash delivered an inside day today. Hence the overall assessment remains unchanged from yesterday - "The current upswing is most likely an impulse wave. Does it initiate a new upswing following a W-bottom (Chart 2 blue) or wave [c] of a bearish flat(Chart 2 red)?"
